WASHINGTON — Average U.S. rates on fixed mortgages rose for the second straight week amid some signs of economic strength. Rates still remain near historically low levels.
Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan increased to 4.35 percent from 4.16 percent last week. That’s the highest level since Sept. 19, when it was 4.50 percent. The average on the 15-year fixed mortgage rose to 3.35 percent from 3.27 percent. The rates, though, are at their lowest levels in four months.
A report from the government last week that U.S. employers added a surprisingly strong 204,000 jobs in October. Another government report showed growth in the economy from July through September, though much of the gain came from a buildup in company stockpiles.
Mortgage rates began falling in September when the Federal Reserve continued its $85-billion-a-month bond purchases. The purchases are intended to keep long-term interest rates low.
The average fee for a 30-year mortgage slipped to 0.7 point from 0.8 point. The fee for a 15-year loan was unchanged at 0.7 point.
The average rate on a one-year adjustable-rate mortgage was steady at 2.61 percent. The fee declined to 0.4 point from 0.5 point.
The average rate on a five-year adjustable mortgage rose to 3.01 percent from 2.96 percent. The fee slipped to 0.4 point from 0.5 point.